Just this week…
*Morgan Stanley* names *BNY* as a custodian for spot btc ETF
Kraken gains access to *Fed* payment system
US President says *tradfi banks* need to make good deal w/ crypto industry
*NYSE* owner ICE invests in crypto exchange OKX
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Stories of getting rich overnight are always in the minority.

A Gen Z girl's diary of losing money in the crypto

Last night, an incident dubbed "the most absurd fat finger in DeFi history" caused a stir in the crypto community.

The protagonist of the story was an anonymous "big spender." Through the Aave DeFi lending protocol's app interface, he initiated a seemingly simple transaction: exchanging a staggering $50.43 million worth of USDT stablecoins for AAVE tokens.

How large was this transaction? Large enough to instantly "dry up" the liquidity of many smaller cryptocurrencies. Because AAVE tokens have limited trading depth, such a massive buy order directly triggered catastrophic slippage. Simply put, slippage...

$50 million gone in a single "confirm"! The most expensive accidental loss in DeFi history is born.

A crypto whale converted $50 million worth of USDT into AAVE tokens in a single transaction via the Aave interface, but due to extreme price slippage, the transaction only […].
The article, BlockTempo "Terrible! Whale Loses $50 Million on Aave Due to 'Extreme Price Slippage'," was originally published on BlockTempo, the most influential blockchain ABMedia media.